A 256-MW cogeneration plant in Cambridge, Massachusetts, US is to be acquired by energy and district heat provider Veolia Energy North America and infrastructure investment firm I Squared Capital.
Terms of the agreement to purchase the natural gas-fueled Kendall Cogeneration Station from NRG North America were not disclosed. The plant provides electricity and steam to the surrounding Kendall Square neighbourhood and has been in operation since 1949.
The companies plan to reconfigure the plant, adding a 2133-metre pipeline extension that will deliver steam to Veolia’s customers in Cambridge and Boston. The reconfiguration will also reduce emissions by around 475,000 tonnes/year, the companies said.
Adil Rahmathulla, a partner at I Squared Capital, said, ‘The acquisition of Kendall Cogeneration follows our strategy of investing in the US energy infrastructure sector with a focus on growth opportunities. Cogeneration facilities should be encouraged across the US as a means for efficient energy consumption and carbon emissions reduction.’
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